The Market Is Getting Dragged Lower By The Critical Mass of Hindeburg Omens, Weaker Yen, Mortgage Activity
August 14th, 2013
6th Hindenburg Omen In 8 Days Sends Stocks Slumping
As we noted last night, the current cluster of Hindenburg Omens is the most concentrated on record and today just made it worse. Critically, the Hindenburg Omen’s underlying construction is indicative of a market in deep confusion with momentum, advancers, decliners, new highs, and new lows all in divergence. For the 6th day in the last 8, the market has flashed another warning that all is not well in this ‘most levered ever’ equity market.
The equity market internals suggest great confusion…